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expressive auctions

How and Why Negotiations Are Being Replaced by Expressive Auctions in Sourcing

The art of negotiation has existed for millennia. In more recent years it has evolved into a number of techniques used by the respective contracting parties, as they endeavour to have full clarity of the range of possible outcomes and their walk-away positions/ best alternative to a negotiated agreement. As with poker, negotiating strategies can sometimes involve feigning a position of strength to achieve a preferred outcome, while on other occasions the only option is to accede to your opponent’s demands. Experience and skill play an increasingly important part in any negotiation. Any strong negotiator will benefit from having a good grasp of game theory in order to understand an opponent’s likely response to moves and intuitively this forms part of the initial strategic reasoning. Read more on the replacement of negotiations in sourcing by expressive auctions by Alan Holland, CEO and Founder Keelvar.